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Article: The Taking of a Troubled Thrift; FDIC Move on Cleveland's Broadview Savings Illustrates New Challenge Facing the Agency
- Article from:
- The Washington Post
- Article date:
- April 23, 1989
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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John Misiewicz, a government bank regulator who often must calm
nervous depositors, was fidgeting with worry, adjusting his
eyeglasses and shuffling pages of notes.
The next morning, the 39-year-old bank examiner would lead a crew
from the Federal Deposit Insurance Corp. on a mission he had never
before tackled: The takeover of a troubled savings and loan.
"Tomorrow is going to be a tough day, no question," he told
about 20 government officials, some in blue jeans and others in
pin-striped suits, who gathered for a secret strategy meeting in a
hotel room across the street from Broadview Savings Bank.
Then he raised a concern that was to dominate everyone's
thoughts: What if, instead ...